News

(RTTNews) - HNI Corporation (HNI), a manufacturer of workplace furnishings and residential building products, on Wednesday reported a loss for the fourth quarter, mainly due to acquisition costs and higher cost of sales.

The company posted a loss of $49.2 million or $0.94 per share for the quarter, compared with profit of $38.3 million or $0.79 per share a year ago.

Acquisition costs of $86.3 million were recorded during the current quarter in connection with the acquisition of Steelcase.

Excluding one-time items, the company posted adjusted EPS of $0.83.

Operating loss was $31.2 million compared with operating profit of $54.6 million last year.

Adjusted operating income rose to $64.6 million from $59.7 million a year ago.

Net sales increased 38.3% to $888.4 million from $642.5 million in the previous year. On an organic basis, net sales increased 10.1 percent year-over-year.

For the first quarter, HNI expects net sales to increase by more than 130% year-over-year, including Steelcase revenue, while adjusted EPS is expected to decrease slightly from 2025 levels.

For the full year, net sales are expected to more than double, and adjusted EPS is forecast to grow at a double-digit pace.

HNI shares were up 1.91% in pre-market trading after closing at $48.57 on Tuesday.

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